YOU HAVEN’T HAD A VACATION IN YEARS
If your business cannot run without you being there 24/7, it’s a sure sign of trouble. You are working in the business, not on the business. Not only does this put you under huge strain, it actually puts your business at risk.
Recently I worked with an entrepreneur who has a catering business. She loves food and her clients rave about her, but she was running herself ragged and still not making any money. When we looked at her business, it was clear that the systems in place for core functions were very slack, particularly procurement. She was paying about 20% more for food products than her competitors were. Charging the going rate, she was actually losing money. Because she’s great at selling, she tried to sell herself out of trouble and instead deepened her losses, almost going broke!